Mitchell Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Mitchell averaged
5.87%
for the week of 2024-10-10, compared to the national average of
6.32% for the same period.
The average rate for the prior week (2024-10-03) was
5.97% and
one month ago for the week of 2024-09-05, the
average rate was 5.9%.
Mitchell's average rate one year ago was 7.34%.
For refis of the same type during the week of 2024-10-10, the average rate
was 6.22%.
Loan Type | Date | Rate |
---|---|---|
US 30 Year Fixed Rate | 2024-10-10 | 6.32% |
Mitchell 30 Year Fixed Rate | 2024-10-10 | 5.87% |
Mitchell 30 Year Fixed Rate Refi | 2024-10-10 | 6.22% |
Mitchell 15 Year Fixed Rate | 2024-10-10 | 5.41% |
Mitchell 15 Year Fixed Rate Refi | 2024-10-10 | 5.31% |
Mitchell 30 Year FHA | 2024-10-10 | 6.1% |
Mitchell 30 Year FHA Refi | 2024-10-10 | 6.3% |
Mitchell 30 Year USDA | 2024-10-10 | 5.98% |
Mitchell 30 Year USDA Refi | 2024-10-10 | 6.18% |
Mitchell 30 Year VA | 2024-10-10 | 5.85% |
Mitchell 30 Year VA Refi | 2024-10-10 | 5.85% |
Mitchell Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Mitchell, SD market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Mitchell Average Closing Costs & Other Stats
Mitchell, SD's 26 lenders originated 341
loans during 2023. The total origination value was $66,015,000, with an average loan value of
$193,592.
Mitchell's average closing costs are $4,247.
The top Mitchell lender as defined by loan originations is CORTRUST MORTGAGE, INC., with
36 loans originated. Their average total fees are
$4,263, which is $552
lower than the next largest lender,
Plains Commerce Bank.
The lowest fee Mitchell lenders (with over 10 loans originated) are
First Dakota National Bank ($2,720), CORTRUST MORTGAGE, INC. ($4,263), Plains Commerce Bank ($4,815), BANKWEST, INC. ($5,102) and .
The lowest rate Mitchell lenders (with over 10 loans originated) are
CORTRUST MORTGAGE, INC. (6.43%), BANKWEST, INC. (6.46%), Plains Commerce Bank (6.67%), First Dakota National Bank (6.87%) and .
Mitchell, SD Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
Name | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
---|---|---|---|---|
Plains Commerce Bank | $22,705,000 | $17,320,000 | -23.7% | 26.2% |
CORTRUST MORTGAGE, INC. | $11,450,000 | $9,310,000 | -18.7% | 14.1% |
First Western Bank & Trust | $7,995,000 | n/a | 12.1% | |
First Dakota National Bank | $16,565,000 | $6,830,000 | -58.8% | 10.3% |
BANKWEST, INC. | $7,525,000 | $4,940,000 | -34.4% | 7.5% |
CorTrust Bank | $2,850,000 | $2,765,000 | -3.0% | 4.2% |
U.S. Bank | $3,740,000 | $1,600,000 | -57.2% | 2.4% |
First National Bank of Omaha | $1,785,000 | $1,535,000 | -14.0% | 2.3% |
QUICKEN LOANS, LLC | $3,970,000 | $1,420,000 | -64.2% | 2.2% |
First PREMIER Bank | $415,000 | $1,140,000 | 174.7% | 1.7% |
First International Bank & Trust | $1,010,000 | $1,065,000 | 5.4% | 1.6% |
SERVICE FIRST FEDERAL CREDIT UNION | $1,045,000 | $580,000 | -44.5% | 0.9% |
Discover Bank | $165,000 | $545,000 | 230.3% | 0.8% |
Truist | $530,000 | n/a | 0.8% | |
USAA Federal Savings Bank | $520,000 | n/a | 0.8% | |
BLACK HILLS FEDERAL CREDIT UNION | $605,000 | $510,000 | -15.7% | 0.8% |
First National Bank | $135,000 | $465,000 | 244.4% | 0.7% |
First Interstate Bank | $760,000 | $450,000 | -40.8% | 0.7% |
Mortgage Research Center, LLC | $605,000 | $445,000 | -26.4% | 0.7% |
American Bank & Trust | $390,000 | n/a | 0.6% | |
Minnwest Bank | $365,000 | n/a | 0.6% | |
Reliabank Dakota | $955,000 | $350,000 | -63.4% | 0.5% |
SIOUX FALLS | $125,000 | $305,000 | 144.0% | 0.5% |
AmeriHome Mortgage Company, LLC | $300,000 | n/a | 0.5% | |
First Bank & Trust | $435,000 | $280,000 | -35.6% | 0.4% |
GUARANTEED RATE, INC. | $155,000 | $275,000 | 77.4% | 0.4% |
Wells Fargo Bank | $1,895,000 | $275,000 | -85.5% | 0.4% |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $370,000 | $260,000 | -29.7% | 0.4% |
PRIMELENDING, A PLAINSCAPITAL COMPANY | $215,000 | $255,000 | 18.6% | 0.4% |
Dacotah Bank | $295,000 | $245,000 | -16.9% | 0.4% |
MID AMERICA MORTGAGE, INC. | $245,000 | n/a | 0.4% | |
HOMESIDE FINANCIAL, LLC | $240,000 | n/a | 0.4% | |
BROKER SOLUTIONS, INC. | $535,000 | $225,000 | -57.9% | 0.3% |
Flanagan State Bank | $175,000 | $205,000 | 17.1% | 0.3% |
NEWREZ LLC | $195,000 | $205,000 | 5.1% | 0.3% |
PENNYMAC LOAN SERVICES, LLC | $135,000 | $205,000 | 51.9% | 0.3% |
CU MORTGAGE DIRECT, LLC | $200,000 | n/a | 0.3% | |
JPMorgan Chase Bank | $145,000 | $185,000 | 27.6% | 0.3% |
LOANDEPOT.COM, LLC | $1,085,000 | $175,000 | -83.9% | 0.3% |
Rivers Edge Bank | $160,000 | n/a | 0.2% | |
Carrington Mortgage Services, LLC | $155,000 | n/a | 0.2% | |
Mr. Cooper ( Nationstar Mortgage ) | $165,000 | $135,000 | -18.2% | 0.2% |
Barrington Bank & Trust Company, N.A. | $125,000 | n/a | 0.2% | |
Central Bank | $115,000 | n/a | 0.2% | |
Stifel Bank and Trust | $105,000 | n/a | 0.2% | |
Citizens Bank | $55,000 | n/a | 0.1% | |
The First National Bank in Sioux Falls | $1,340,000 | $15,000 | -98.9% | 0.0% |
Mitchell's top lender by overall market share is Plains Commerce Bank, with 26.2% market share. In second place, with 14.1%, is CORTRUST MORTGAGE, INC., having originated $9,310,000 in loans. In third place, with 12.1%, is First Western Bank & Trust, having originated $7,995,000 in loans. In fourth place, with 10.3%, is First Dakota National Bank, having originated $6,830,000 in loans. In fifth place, with 7.5%, is BANKWEST, INC., having originated $4,940,000 in loans.
Mitchell Housing Market Trends (Median, Average Prices & Listing Count)
Realtor.com - Mitchell (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $164,650 (3.1%) | $272,963 (34.4%) | 0.00 | 58 |
2018-02-01 | $179,750 (15.3%) | $296,753 (51.6%) | 0.00 | 58 |
2018-03-01 | $189,000 (21.2%) | $304,814 (61.8%) | 0.00 | 47 |
2018-04-01 | $191,623 (23.8%) | $302,025 (56.9%) | 0.00 | 53 |
2018-05-01 | $194,750 (17.6%) | $284,697 (36.6%) | 0.00 | 56 |
2018-06-01 | $194,698 (16.0%) | $294,173 (39.6%) | 0.00 | 55 |
2018-07-01 | $188,900 (14.6%) | $266,629 (29.6%) | 0.00 | 59 |
2018-08-01 | $164,775 (0.2%) | $247,482 (14.7%) | 0.00 | 69 |
2018-09-01 | $159,900 (0.4%) | $244,099 (12.0%) | 0.00 | 62 |
2018-10-01 | $158,450 (-0.2%) | $219,152 (-14.6%) | 0.00 | 62 |
2018-11-01 | $159,750 (1.6%) | $215,687 (-17.8%) | 0.00 | 63 |
2018-12-01 | $159,375 (0.9%) | $216,164 (-17.8%) | 0.00 | 60 |
2019-01-01 | $178,125 (8.2%) | $237,722 (-12.9%) | 0.00 | 45 |
2019-02-01 | $174,375 (-3.0%) | $197,129 (-33.6%) | 0.00 | 38 |
2019-03-01 | $180,814 (-4.3%) | $207,228 (-32.0%) | 0.00 | 39 |
2019-04-01 | $186,814 (-2.5%) | $207,667 (-31.2%) | 0.00 | 38 |
2019-05-01 | $176,175 (-9.5%) | $200,470 (-29.6%) | 0.00 | 45 |
2019-06-01 | $174,900 (-10.2%) | $195,888 (-33.4%) | 0.00 | 61 |
2019-07-01 | $169,200 (-10.4%) | $199,775 (-25.1%) | 0.00 | 64 |
2019-08-01 | $160,455 (-2.6%) | $192,624 (-22.2%) | 0.00 | 73 |
2019-09-01 | $148,386 (-7.2%) | $180,344 (-26.1%) | 0.00 | 75 |
2019-10-01 | $144,441 (-8.8%) | $173,541 (-20.8%) | 0.00 | 78 |
2019-11-01 | $138,500 (-13.3%) | $169,343 (-21.5%) | 0.00 | 70 |
2019-12-01 | $137,750 (-13.6%) | $161,976 (-25.1%) | 0.00 | 64 |
2020-01-01 | $134,875 (-24.3%) | $150,095 (-36.9%) | 0.00 | 59 |
2020-02-01 | $144,900 (-16.9%) | $166,877 (-15.4%) | 0.00 | 63 |
2020-03-01 | $149,450 (-17.4%) | $169,798 (-18.1%) | 0.00 | 65 |
2020-04-01 | $156,050 (-16.5%) | $172,688 (-16.8%) | 0.00 | 64 |
2020-05-01 | $157,000 (-10.9%) | $170,753 (-14.8%) | 0.00 | 64 |
2020-06-01 | $139,500 (-20.2%) | $171,259 (-12.6%) | 0.00 | 59 |
2020-07-01 | $139,250 (-17.7%) | $196,774 (-1.5%) | 0.00 | 58 |
2020-08-01 | $154,950 (-3.4%) | $196,322 (1.9%) | 0.00 | 53 |
2020-09-01 | $154,163 (3.9%) | $188,135 (4.3%) | 0.00 | 50 |
2020-10-01 | $134,000 (-7.2%) | $186,217 (7.3%) | 0.00 | 44 |
2020-11-01 | $126,250 (-8.8%) | $178,566 (5.5%) | 0.00 | 41 |
2020-12-01 | $125,825 (-8.7%) | $272,705 (68.4%) | 0.00 | 32 |
2021-01-01 | $139,500 (3.4%) | $294,526 (96.2%) | 0.00 | 28 |
2021-02-01 | $137,975 (-4.8%) | $301,575 (80.7%) | 0.00 | 29 |
2021-03-01 | $179,000 (19.8%) | $306,154 (80.3%) | 0.00 | 34 |
2021-04-01 | $214,950 (37.7%) | $324,275 (87.8%) | 0.00 | 35 |
2021-05-01 | $225,000 (43.3%) | $372,499 (118.2%) | 0.00 | 37 |
2021-06-01 | $225,000 (61.3%) | $374,128 (118.5%) | 0.00 | 39 |
2021-07-01 | $215,000 (54.4%) | $363,148 (84.6%) | 0.00 | 50 |
2021-08-01 | $199,775 (28.9%) | $326,771 (66.5%) | 0.00 | 59 |
2021-09-01 | $208,475 (35.2%) | $338,529 (79.9%) | 0.00 | 47 |
2021-10-01 | $165,900 (23.8%) | $331,735 (78.1%) | 0.00 | 38 |
2021-11-01 | $174,475 (38.2%) | $294,771 (65.1%) | 0.00 | 34 |
2021-12-01 | $157,350 (25.1%) | $268,975 (-1.4%) | 0.00 | 30 |
2022-01-01 | $139,900 (0.3%) | $265,864 (-9.7%) | 0.00 | 23 |
2022-02-01 | $152,100 (10.2%) | $272,369 (-9.7%) | 0.00 | 27 |
2022-03-01 | $186,950 (4.4%) | $291,079 (-4.9%) | 0.00 | 31 |
2022-04-01 | $209,900 (-2.4%) | $281,492 (-13.2%) | 0.00 | 38 |
2022-05-01 | $217,450 (-3.4%) | $296,659 (-20.4%) | 0.00 | 44 |
2022-06-01 | $214,950 (-4.5%) | $314,032 (-16.1%) | 0.00 | 50 |
2022-07-01 | $215,000 (0.0%) | $335,751 (-7.5%) | 0.00 | 48 |
2022-08-01 | $236,700 (18.5%) | $406,290 (24.3%) | 0.00 | 42 |
2022-09-01 | $226,250 (8.5%) | $406,632 (20.1%) | 0.00 | 41 |
2022-10-01 | $265,000 (59.7%) | $444,164 (33.9%) | 0.00 | 33 |
2022-11-01 | $292,400 (67.6%) | $458,851 (55.7%) | 0.00 | 36 |
2022-12-01 | $379,450 (141.2%) | $483,415 (79.7%) | 0.00 | 32 |
2023-01-01 | $306,150 (118.8%) | $483,402 (81.8%) | 0.00 | 29 |
2023-02-01 | $325,999 (114.3%) | $504,214 (85.1%) | 0.00 | 30 |
2023-03-01 | $304,900 (63.1%) | $496,733 (70.7%) | 0.00 | 30 |
2023-04-01 | $304,900 (45.3%) | $466,275 (65.6%) | 0.00 | 34 |
2023-05-01 | $304,175 (39.9%) | $440,258 (48.4%) | 0.00 | 58 |
2023-06-01 | $297,500 (38.4%) | $398,402 (26.9%) | 0.00 | 79 |
2023-07-01 | $279,950 (30.2%) | $359,141 (7.0%) | 0.00 | 102 |
2023-08-01 | $273,675 (15.6%) | $393,908 (-3.1%) | 0.00 | 62 |
2023-09-01 | $290,000 (28.2%) | $382,957 (-5.8%) | 0.00 | 61 |
2023-10-01 | $295,000 (11.3%) | $374,721 (-15.6%) | 0.00 | 48 |
2023-11-01 | $295,000 (0.9%) | $355,876 (-22.4%) | 0.00 | 50 |
2023-12-01 | $290,000 (-23.6%) | $355,505 (-26.5%) | 0.00 | 47 |
2024-01-01 | $284,500 (-7.1%) | $351,352 (-27.3%) | 0.00 | 44 |
2024-02-01 | $293,725 (-9.9%) | $329,233 (-34.7%) | 0.00 | 39 |
2024-03-01 | $309,950 (1.7%) | $345,567 (-30.4%) | 0.00 | 36 |
2024-04-01 | $330,000 (8.2%) | $386,892 (-17.0%) | 0.00 | 41 |
2024-05-01 | $384,500 (26.4%) | $419,206 (-4.8%) | 0.00 | 47 |
2024-06-01 | $355,000 (19.3%) | $393,864 (-1.1%) | 0.00 | 57 |
2024-07-01 | $317,450 (13.4%) | $371,118 (3.3%) | 0.00 | 58 |
2024-08-01 | $307,975 (12.5%) | $396,131 (0.6%) | 0.00 | 65 |
2024-09-01 | $299,675 (3.3%) | $399,597 (4.3%) | 0.00 | 64 |
Mitchell's median listing price comes in at 0% of the national average.
Mitchell's average listing price for 2024-09-01 was $399,597, a difference of $16,640 (4.3%) versus the prior year and $3,466 versus the prior month.
For the 2024-09-01 period, Mitchell had 64 MLS listings, a difference of -1 listings (-2%) versus the prior month and 3 listings (5%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Mitchell (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,753 sqft |
2018-02-01 | 0 days | 1,760 sqft |
2018-03-01 | 0 days | 1,578 sqft |
2018-04-01 | 0 days | 1,666 sqft |
2018-05-01 | 0 days | 1,750 sqft |
2018-06-01 | 0 days | 1,751 sqft |
2018-07-01 | 0 days | 1,653 sqft |
2018-08-01 | 0 days | 1,666 sqft |
2018-09-01 | 0 days | 1,629 sqft |
2018-10-01 | 0 days | 1,629 sqft |
2018-11-01 | 0 days | 1,687 sqft |
2018-12-01 | 0 days | 1,778 sqft |
2019-01-01 | 0 days | 1,858 sqft |
2019-02-01 | 0 days | 1,858 sqft |
2019-03-01 | 0 days | 1,647 sqft |
2019-04-01 | 0 days | 1,594 sqft |
2019-05-01 | 0 days | 1,758 sqft |
2019-06-01 | 0 days | 1,828 sqft |
2019-07-01 | 0 days | 1,721 sqft |
2019-08-01 | 0 days | 1,643 sqft |
2019-09-01 | 0 days | 1,635 sqft |
2019-10-01 | 0 days | 1,628 sqft |
2019-11-01 | 0 days | 1,546 sqft |
2019-12-01 | 0 days | 1,502 sqft |
2020-01-01 | 0 days | 1,383 sqft |
2020-02-01 | 0 days | 1,612 sqft |
2020-03-01 | 0 days | 1,630 sqft |
2020-04-01 | 0 days | 1,651 sqft |
2020-05-01 | 0 days | 1,643 sqft |
2020-06-01 | 0 days | 1,587 sqft |
2020-07-01 | 0 days | 1,560 sqft |
2020-08-01 | 0 days | 1,781 sqft |
2020-09-01 | 0 days | 1,779 sqft |
2020-10-01 | 0 days | 1,824 sqft |
2020-11-01 | 0 days | 1,849 sqft |
2020-12-01 | 0 days | 1,886 sqft |
2021-01-01 | 0 days | 1,977 sqft |
2021-02-01 | 0 days | 1,915 sqft |
2021-03-01 | 0 days | 1,978 sqft |
2021-04-01 | 0 days | 2,026 sqft |
2021-05-01 | 0 days | 2,074 sqft |
2021-06-01 | 0 days | 1,881 sqft |
2021-07-01 | 0 days | 1,810 sqft |
2021-08-01 | 0 days | 1,887 sqft |
2021-09-01 | 0 days | 1,969 sqft |
2021-10-01 | 0 days | 1,889 sqft |
2021-11-01 | 0 days | 1,909 sqft |
2021-12-01 | 0 days | 1,856 sqft |
2022-01-01 | 0 days | 1,502 sqft |
2022-02-01 | 0 days | 1,522 sqft |
2022-03-01 | 0 days | 1,659 sqft |
2022-04-01 | 0 days | 1,721 sqft |
2022-05-01 | 0 days | 1,678 sqft |
2022-06-01 | 0 days | 1,676 sqft |
2022-07-01 | 0 days | 1,715 sqft |
2022-08-01 | 0 days | 1,753 sqft |
2022-09-01 | 0 days | 1,890 sqft |
2022-10-01 | 0 days | 1,949 sqft |
2022-11-01 | 0 days | 1,815 sqft |
2022-12-01 | 0 days | 1,849 sqft |
2023-01-01 | 0 days | 1,838 sqft |
2023-02-01 | 0 days | 1,953 sqft |
2023-03-01 | 0 days | 1,922 sqft |
2023-04-01 | 0 days | 1,915 sqft |
2023-05-01 | 0 days | 1,941 sqft |
2023-06-01 | 0 days | 1,905 sqft |
2023-07-01 | 0 days | 1,905 sqft |
2023-08-01 | 0 days | 2,020 sqft |
2023-09-01 | 0 days | 2,019 sqft |
2023-10-01 | 0 days | 1,975 sqft |
2023-11-01 | 0 days | 2,128 sqft |
2023-12-01 | 0 days | 2,263 sqft |
2024-01-01 | 0 days | 2,239 sqft |
2024-02-01 | 0 days | 1,910 sqft |
2024-03-01 | 0 days | 1,891 sqft |
2024-04-01 | 0 days | 2,119 sqft |
2024-05-01 | 0 days | 2,352 sqft |
2024-06-01 | 0 days | 2,252 sqft |
2024-07-01 | 0 days | 2,083 sqft |
2024-08-01 | 0 days | 2,184 sqft |
2024-09-01 | 0 days | 2,175 sqft |
Mitchell's median square footage for active listings during the 2024-09-01 period was 2,175 sqft. One year prior, the average listing was 2,019 sqft.
Mitchell, SD Market Loan Reason
Loan Purpose | Originations | Total Value | Average Loan |
---|---|---|---|
Home Purchase | 214 | $53,560,000 | $250,280 |
Refi | 39 | $4,725,000 | $121,154 |
Home Improvement | 36 | $2,240,000 | $62,222 |
Cash Out Refi | 27 | $3,595,000 | $133,148 |
Other | 25 | $1,895,000 | $75,800 |
Mitchell's most frequently cited loan purpose was Home Purchase, with 214 originations. The 2nd most popular reason was Refi, with 39 originations.
Interest Rate Frequencies
Loan Rate | Originations | Total Value | Average Loan |
---|---|---|---|
6-7% | 114 | $32,290,000 | $283,246 |
7-8% | 60 | $10,930,000 | $182,167 |
5-6% | 59 | $12,325,000 | $208,898 |
Over 8% | 47 | $6,045,000 | $128,617 |
<2.5% | 3 | $25,000 | $8,333 |
2.5-3% | 3 | $465,000 | $155,000 |
4-5% | 2 | $430,000 | $215,000 |
During 2023, Mitchell's most frequently originated rate bucket was 6-7%, with 114 originations.
Loan Sizing (Mitchell, SD MSA)
Loan Size | Originations | Total Value | Average Loan |
---|---|---|---|
$100k-200k | 119 | $17,495,000 | $147,017 |
$100,000 or less | 114 | $6,200,000 | $54,386 |
$200k-400k | 88 | $23,270,000 | $264,432 |
$400k-600k | 12 | $5,610,000 | $467,500 |
$600k-1000k | 7 | $5,445,000 | $777,857 |
$Over $1MM | 1 | $7,995,000 | $7,995,000 |
Mitchell's loan sizing saw the bucket of loans from $100k-200k with 119 originations, totaling $17,495,000 in origination value.
LTV Distribution
Loan to Value | Originations | Total Value | Average Loan |
---|---|---|---|
80-100% | 139 | $31,255,000 | $224,856 |
60-80% | 57 | $20,735,000 | $363,772 |
40-60% | 32 | $4,410,000 | $137,813 |
20-40% | 31 | $3,765,000 | $121,452 |
Under 20% | 24 | $990,000 | $41,250 |
Over 100% | 5 | $1,355,000 | $271,000 |
Mitchell's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 139 originations, totaling $31,255,000 in origination value.